Bank News

Mission Valley Bancorp (OTCQX: MVLY) announced net income of $967 thousand, or $0.30 per diluted share, for the fourth quarter of 2018 compared to net income of $342 thousand, or $0.11 per diluted share, for the fourth quarter of 2017. Net income for the twelve months ended December 31, 2018 was $3.2 million, or $0.98 per diluted share, compared to $3.6 million, or $1.07 per diluted share for the twelve months ended December 31, 2017. The 2018 net income figure was negatively impacted by one credit relationship that resulted in a $1.2 million lower of cost or market write-down taken against gain on sale of loans. “2018 proved to be a transformative year for Mission Valley Bank, as both loan and deposit levels reached record highs while great strides were made toward our long term strategy of strengthening our infrastructure and the alignment of key business units.” stated Tamara Gurney, CEO of Mission Valley, “During the year, we committed to an investment in human capital, bolstering the depth of our management team and further ensuring that we are well-positioned going into 2019.” Highlights 2018 compared to 2017:

Billions of people were affected by data breaches and cyberattacks in 2018 with losses surpassing tens of millions of dollars, according to global digital security firm Positive Technologies. The sheer volume of major companies – Marriott, Dunkin’, Under Armour, among others – hit by data breaches indicate incidents are on the rise.

In today’s business climate, cybercriminals aggressively target not only large companies but also small businesses with ever-increasingly sophisticated attacks. Spoofed emails, malicious software and online social networks to obtain login credentials to businesses’ accounts, transfer funds from the accounts and steal private information are on the rise.

Don’t be surprised if the next time you happen to visit www.MISSIONVALLEYBANK.COM it looks a little different. On Wednesday, March 27th, Mission Valley Bank will launch its new, fully responsive website. With new features such as full site search, streamlined login, enhanced stock updates and online check reorder, this fully responsive website will enable our visitors to navigate more quickly and easily than ever before.

Whether you are just thinking about starting a business, or are already up and running, your business plan is an essential ingredient to your success. The business plan is where you lay out everything that you know about your business and why you believe your business will succeed. It will serve as a guideline for the formation and development of your business. It will help you to make decisions and to measure your successes or shortfalls along the way. It is also a document that lenders such as financial institutions or the Small Business Administration will use to determine whether to loan you money for your business. In short, no business should be without a business plan.

Fake Invoices

Scammers create phony invoices that look like they’re for products or services your business uses — maybe office or cleaning supplies or domain name registrations. Scammers hope the person who pays your bills will assume the invoices are for things the company actually ordered. Scammers know that when the invoice is for something critical, like keeping your website up and running, you may pay first and ask questions later. Except it’s all fake, and if you pay, your money may be gone.

It's that time of year — the time to ring out the old and ring in the new, to ditch bad habits and replace them with good ones. We can't guarantee you'll lose weight, or become a better human being, but we can give you some reminders to help you whip your finances into shape. Here are some tips for the New Year:

Recent natural disasters have (or should have) prompted organizations to review their plans for handling different types of emergencies. Being prepared for any type of natural or man-made disaster makes good business sense. Here are some ideas to consider for handling an emergency that make good common sense. Important Files